Oil Edges Higher as ECB Measures Boost Market Sentiment

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Eric Yep Crude-oil futures rose in Asian trade Friday in line with positive sentiment in wider financial markets after the European Central Bank raised its growth forecasts and said it would begin its bond buying program from Monday. On ...

Sompo Japan to Buy Stake in France's Scor

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Megumi Fujikawa TOKYO-- Sompo Japan Nipponkoa Holdings Inc. said Friday that it has decided to spend about $915 million to buy a stake in French reinsurance giant Scor SE. In an attempt to gain stable profits from the commercial ...

Biotech Bidding War Yields Rich Price

TODAY: March 6, 2015 PUB DATE: March 6, 2015

(FROM THE WALL STREET JOURNAL 3/6/15) By Jonathan D. Rockoff The multibillion-dollar sales potential of a cancer drug that Pharmacyclics Inc. chanced upon nine years ago prompted a three-way bidding war that culminated late Wednesday in AbbVie Inc.'s $21 billion ...

China Real Fiscal Deficit Tops Budgeted Level

TODAY: March 6, 2015 PUB DATE: March 6, 2015

BEIJING--China's real fiscal deficit ratio is higher than the budgeted level as unspent funds from past years will be spent this year but not included in the budget calculation for 2015, Finance Minister Lou Jiwei said Friday. Speaking at a ...

German January Industrial Production Rises

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Todd Buell FRANKFURT--German industrial production increased on the month in January, as mild winter weather gave a healthy boost to the construction industry, data from the country's economy ministry showed Friday. In adjusted terms, production increased by 0.6% on ...

Dollar Tad Lower Against Yen Ahead of U.S. Jobs Data

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Hiroyuki Kachi The dollar was a tad lower against the yen Asia trade Friday, as the greenback hovered around the psychologically-important Y120-mark ahead of the closely-monitored U.S. jobs data for February later in the global day. Around 0450 GMT, ...

Caixabank Says Takeover Offer for Portugal's BPI Is 'Fair'

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By David Roman MADRID--Spain's Caixabank SA (CABK.MC) on Friday said its offer for Banco BPI SA (BPI.LB) is fair and will stay on the table despite being rejected by the Portuguese lender's board. In a regulatory filing, the Barcelona-based bank ...

China Says Will Spend More Than Meets the Eye -- Update

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Lingling Wei BEIJING--The Chinese government won't be as tightfisted this year as official projects suggest, China's finance minister said on Friday, indicating the authorities will beef up spending to spur economic activity. A budget report delivered to the country's ...

Asian Shares Up as ECB Raises Growth Forecast

TODAY: March 6, 2015 PUB DATE: March 6, 2015

Stocks in Japan led gains in Asia on Friday, after the European Central Bank raised its growth forecast for the region. The Nikkei Stock Average was up 1%, while stocks from Singapore to Korea rose fractionally. Shares across the region ...

German Industrial Production Rises

TODAY: March 6, 2015 PUB DATE: March 6, 2015

FRANKFURT--German industrial production increased on the month in January, as mild winter weather gave a healthy boost to the construction industry, data from the country's economy ministry showed Friday. In adjusted terms, production increased by 0.6% on the month, beating ...

Sompo Japan Nipponkoa May Buy Stake in France's Scor

TODAY: March 6, 2015 PUB DATE: March 6, 2015

TOKYO--Sompo Japan Nipponkoa Holdings Inc. (8630.TO) said it is considering buying a stake in French reinsurance giant Scor SE (SCR.FR), in a deal that could reportedly be worth over $900 million. The joint holding company that was founded through the ...

Malaysia January Exports Unexpectedly Contracts

TODAY: March 6, 2015 PUB DATE: March 6, 2015

KUALA LUMPUR--Malaysia's January exports unexpected contracted 0.6% from a year earlier mainly due to declines in prices of petroleum products and palm oil. A survey of 11 economists by The Wall Street Journal produced a median forecast for 1.5% year-on-year ...

Foreign Takeovers See U.S. Losing Tax Revenue

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Liz Hoffman And John D. McKinnon Just months after the Obama administration cracked down on mergers that helped U.S. companies skirt domestic taxes, a wave of foreign takeovers is steering more tax revenue away from Uncle Sam. In deals ...

China Projects 2015 Budget Deficit of 1.62 Trillion Yuan

TODAY: March 6, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

China Lowers Growth Target to About 7%

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Mark Magnier BEIJING--China lowered its economic growth forecast to about 7% this year at the opening of the country's biggest political event of the year, ushering in what leaders have dubbed a "new normal" of slower growth in the ...

Brazil Central Bank Raises Benchmark Selic Rate

TODAY: March 6, 2015 PUB DATE: March 5, 2015

SÃO PAULO--Brazil's central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil. The statement announcing the increase, which ...

Australia Report Backs Case for Tough Budget Measures

TODAY: March 6, 2015 PUB DATE: March 5, 2015

CANBERRA, Australia--Australia's conservative government has begun a fight to repair its tarnished popularity and win public backing for unpopular budget reform, warning voters on Thursday that without change the slowing economy was no longer able to support generous social spending. ...

RBA's Lowe Says Global Easings Affecting Local Rates

TODAY: March 6, 2015 PUB DATE: March 5, 2015

SYDNEY--Aggressive monetary easings and currency devaluations by the world's central banks are having a big impact on the setting of interest rates in Australia, while keeping the local currency artificially high, the country's central bank said. "The scale of global ...

China Plans to Lift Price Controls on Drugs

TODAY: March 6, 2015 PUB DATE: March 5, 2015

BEIJING--China plans to lift price controls for the pharmaceutical market, it said in a work report on Thursday. The report released on the eve of China's annual gathering of lawmakers, the National People's Congress, didn't disclose details or a timeline. ...

China Premier: To Cut Energy Intensity by More Than 3.1% in 2015

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Chuin-Wei Yap and Rose Yu BEIJING--China set a goal of reducing its energy intensity by more than 3.1% for 2015, Premier Li Keqiang said in a report to the annual legislative National People's Congress on Thursday. China exceeded its ...